The Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters act.
Effective April 1, 2021 : Home owners 55 years of age and older, severely disable, or whos property was extensively Destroyed by wildfire or other natural disasters may be eligible to transfer the taxable value of their primary residence to a replacement, primary residence:
TAXATION OF INHERITED PROPERTY TRANSFERS
Effective February 16, 2021: Prop 19 narrows the rules allowing properties to pass from parent to child and grandparent to grandchild without an increase in the property tax bill. the taxable value can be transferred.:
This data is provided for information purposes only and should not be substitution for legal advice. Please consult a tax advisor or legal counsel.
Consult your tax advisor and /or contact your local tax assessor's office to learn more about Proposition 19's provisions and eligibility rules. Any required forms need to be obtained from the assessor's office and filed with them directly post-closing.
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